Innovations supports funding round in Pulmocide

Touchstone Innovations has taken part in a £25.0 million series B funding round in Pulmocide.

Innovations committed £3.0m to the round alongside new investors SR One and Longwood Fund, plus existing investors SV Life Sciences, F-Prime Capital, Johnson & Johnson Innovation.

Pulmocide is a privately-held drug development company located in London which is developing novel small molecule inhaled medicines for the treatment of life threatening respiratory infections caused by respiratory syncytial virus (RSV) and Aspergillus. Innovations said the new funding would enable Pulmocide to advance its assets through early clinical development.

Innovations had a 24.1% interest in the issued share capital of Pulmocide at the end of July and following this new investment it will hold a 18.5% stake in the issued share capital of the company.

At 8:07am: (LON:IVO) Touchstone Innovations PLC prev Imperial Innovations share price was +1p at 348.5p